Live Webinar

65-minute live streaming program
  • September 29
  • 1:00 - 2:05 pm EST

Fundamentals of Military Tax

September 29

Learn how best to advise your clients on tax strategy and planning as they grow in their military career, retirement, or post-service employment.

Members of the military receive special consideration in the tax code in areas such as gross income calculation, sale of home, and filing requirements. The frequent moves and deployments that many military members and families face results in varying situations from one year to the next. Many members of the military utilize the free tax preparation services offered to them aboard the military installations. Often, the military members do not see the same tax preparer in consecutive years. Understanding the military tax benefits will allow you to create relationships with these military members who will trust you and return to your services year after year. You will be able to advise them on tax strategy and planning as they grow in their military career and into retirement or post service employment.

Learning Objectives

  • You will be able to describe the reduced exclusion and home sale for members of the military in connection with the suspended 5 year test.
  • You will be able to discuss income that is calculated in gross income for members of the military, including those serving in a combat zone.
  • You will be able to explain taxable income, deductions and credits specific to members of the military.
  • You will be able to identify tax planning strategies for members of the military preparing to leave the service through end of active service, disability or retirement.

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Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

What Is Included and Excluded From Gross Income?
  • Combat Pay
  • Allowances
  • Moving Expenses
Deductions and Credits
  • Itemized Deductions
  • Child and Other Dependent Tax Credits
  • Earned Income Credit
Sale of Home
  • 5 Year Test Suspended
  • Reduced Exclusion Due to Rental
  • Foreclosure
Filing Requirements
  • Filing and Extension
  • Alien Spouses
  • State Taxes-Service Members Civil Relief Act
Taxes After the Military
  • Va Benefits
  • Military Retirement
  • Tax Forgiveness for a Decedent
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Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

Live Webinar Registration

  • CPE 1.2 including Taxes 1.2
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.2 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Taxes for 1.2 hours. Prerequisite: basic knowledge of taxation. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     

Who should attend?

This live webinar is designed for accountants, tax managers, tax preparers, accounts payable professionals, CFOs, controllers, CEOs, operations managers, and consultants.

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Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Kristen Morgan

Kristen Morgan

Kristen's Tax Service

  • Owner: Kristen’s Tax Service
  • Specializing in military tax, residential rentals
  • Speaker for Syracuse University Warrior Scholar Project program 2022
  • Marine Crops Veteran, Member of NAEA
  • Master of Taxation from American University
  • [email protected] 951-973-3740
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Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 409720
Published 2022
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